FROM THIS EPISODE

The campaign to replace Ben Bernanke as head of the Federal Reserve has been called a "circus" that's inappropriate for an appointment of major importance to the global economy. Does Larry Summer's "prickly" personality" really matter? What about Janet Yellin's gender? Also, an update on the US, Egypt and the Middle East.

Ben Bernanke's term as Chair of the Federal Reserve won't end until January, but the campaign over who should replace him is already hot and heavy. Larry Summers and Janet Yellen are the leading candidates to replace Bernanke. It's a highly technical job of global importance, but the campaign between their supporters has raised issues of a different kind. New York Times columnist Maureen Dowd has written that Summers "is being pushed by the boys' club around President Obama." Is Yellen as well qualified as Summers? Is it time for a woman, or is big-time banking still a man's world? Is the gender issue relevant to a technical job of global importance?

The United States has cancelled a bi-annual joint military exercise with Egypt in light of yesterday's deadly crackdown by Egypt's interim government on protesters and the new State of Emergency. More than 500 people were killed and 3000 injured. But the US has still not threatened to freeze $1.3 billion in American aid. In recent weeks, the US has been demonized by both Egypt's interim government and supporters of ousted President Morsi. Today, taking time off from his vacation on Martha's Vineyard, President Obama denounced yesterday's violent attack, saying, "We don't take sides with any particular party or political figure." We hear from the President and from the streets of Cairo. Is violence becoming a fact of daily life?